Topic: Is 5 BTC enough to save for 2 or 3 years? (Read 6503 times)

just like people started selling when bitcoin reached $1
and $10
and $100
and $250
and $1000

your argument is invalid.

I don't think that bitcoin will reach 10k.
People will start selling as soon as it about 2k or a bit more..
So, no. 5 or 10 bitcoins will not make you rich.

It depends how much you want.
If bitcoin reaches 10k one day thats 50k for someone that would
be enough but for someone it is not.

noone knows for sure, but given the limited supply, and given bitcoin is still only used (and understood) by a tiny fraction of human population, it has potential even being worth over $1 million per coin eventually.

will it ever reach $1 million per coin? maybe.

will it reach $10.000? i guess probably by 2014.

will it reach $100.000? hard to say, but i guess it might.

remember, just about 4 years ago, if one knew what a bitcoin was, one could could buy 1000 bitcoins for less than a dollar, now that same 1000 bitcoins would make you a million.

If one coin would be worth 1 million USD in three years, then 10 BTC will definitely be enough.

So the question is 10BTC would be enough to retire in 3 years and buy a nice house a nice ferrari and enjoy life? I mean in order to do that 1 BTC has to cost in 3 years at least 1 million dollars so you have 10 million dollars, you buy a 2 million dollars house, a 350K ferrari, and the rest of the money to live the rest of your life.

So 10BTC would be enough?

I think most people would attribute it to the typical growth pattern of an emerging economy. Once BTC trades at 2,000 per USD i predict for the next big price jumps to be in multiples of thousands.

Is it enough? That shouldn't be the question. When investing the only question should be is it too much. Be safe, only use money your okay with losing because bit coin can crash and vanish on any given day.

this is what i dont get

before $1 it took ages to get there, then it just jumps around 10c at a time

before 100 it took ages to get there then jumps around 10 at a time no worries

before $1000 it took ages to get there now just jumps 50 - 100 no worries

I'm not quite across the mechanics of how this works.

it seems that for each order of magnitude, it just jumps easily withing the prior range that was such a barrier....how does this happen

So are leveraged or bad at math?

ask that same question in one year and you'll be surpried

or uno-coin, UN crypto-currency.

Is 110% a percent of my savings? 

Except the part about waiting.  Horrible advice.

If you plan to invest $2000, do it now all at once.  Don't wait and miss out on the returns as bitcoin continues to go up like a rocket.

Sure, just like how in 2013 I'm sure there are a couple of dial up BBSs hanging on somewhere.

http://themisescircle.org/blog/2013/08/22/the-problem-with-altcoins/

But hey, atleast someone would accept that one

Govcoin? Naaaah, bad features: unlimited, value based by gov, slow and boring 

I'm waiting for the govcoin or eurocoin

Not everyone want Bitcoin, some want litecoin, primecoin etc....

http://www.internetworldstats.com/stats.htm

but 2.4 billion do.. and even if even 10% of those users do , it is 240 million people or ( that wasn't with the current supply i used the full 21 million ) 0.05btc per person.. not going to speculate worth.. but if 10% of current internet users wanted some bitcoin we'd be stuck to 0.05 per person.

if BTC is your only form of savings...then i'd say no.  If BTC is one of your saving instruments, then yes, why not! 
Also, it depends what your expectations are like everyone else said.

sounds nice but isnt true at all. you will never reach all. millions of millions dont even have internet access. hopefully we can reach 30 % of it.

invest what you can afford to lose.

I have 5btc right now (mining super slow) so I'm unable to quickly build up what I spent recently.
 
That said, I'm also dumping $100 from my paycheck every two weeks into buying bitcoins.  Instead of my 401k allocation, my wife agreed to let me try this for a year and we'll evaluate when that time is up, and maybe rebalance after that.   $100 doesn't seem like much, I know, but we've had to batten down the hatches since she lost her job so I had to lower my 401k allocation. 
 
I'm in the process of trying to get my 401k company to add bitcoins to available funds so that I can get the pre-tax benefit of the 401k plus the awesome returns of bitcoins, and get my 50% company match

You could say that about professional athletes who come from humble beginnings but hit the genetic lottery. They find themselves with huge salaries and "friends" who would like nothing more than take advantage, not to mention beautiful women who would like 50%. I read somewhere that a very large percentage of NFL freshmen go bankrupt in the first years of being nouveau rich. Same goes with lotto winners. All that money suddenly finds themselves in a heap of trouble as everyone wants a piece.

So you're right, but my point is that they may not  stay wealthy for a variety of reasons. And they surely don't represent the majority here, you're wrong about that.

Ekaros is right: investing is about money preservation, willing to lose everything you can afford and patience. If you have 5 BTC now, and you make some side money or have a day job, keep it If 5 BTC is all you have, and you're worrying about going to the supermarket in 5 days? Sell it. In my opinion, the price of bitcoin will rise in the coming years . Right now its to "new" , that is why its so volatile. The rise it had the last weeks, and which was really profitable for some  , will probably fall. Short term investing without any knowledge or without any perception of risk in volatile markets can mean bye bye to your nice 5 BTC. Planning to keep it for a few years is probably going to give you slow but rewarding profits. Best thing i would do? Leverage your 5BTC in the S&P500 right now, wait until BTC dropped low once more and when it starts climbing again, jump in. You might see some really nice money growing from the S&P500, and then again from the rise of your BTC, and you might end up with 7-9BTC in the coming 7 months

Just a tip: trading stocks and indexes without any knowledge or understading might wipe all your earnings and more, so be careful. If you really want to invest, ask somebody you trust to do it for you at a % of the profit. And even that does not guarantee profits!

Good luck

if/when btc hits $10,000 you will have $50,000.  keep in mind that by the time we hit 10k it will require massive amounts of fiat to be flowing into btc than are today. you could be waiting a while depending on how strong your hands are.

work it out as a % of your savings

Probably not...

If you still want to invest, invest the amount you are ready to lose. Or minimise your losses when time comes to it...

This is good advice.

Should be enough, but you will to have more when it hit 1million each...

I recommend that you heed JayDT's advice and ignore the others.

Unfortunately the majority here seem to be slavering nutters whose delusional projections just happened to by sheer chance, land them on the very right side of a trade that has turned out to be the undisputed investment opportunity of the 21st century. While they may have been right, (through complete fluke), it certainly don't make em wise.

Enough for your own private island and a nuclear powered yacht to commute to it?  Probably not.

Enough to retire on a nice horse ranch and drive BMWs?  yeah

When asking for investing advice you need to give a bit more info for others to work with.  What is 5 BTC as a % of your long term retirement savings?

Everybody is in a different situation and 5 BTC might mean borrowing $4000 from the bank to invest to one person (which would be stupidity) and to somebody else it might mean scraping up some loose change in their cupboard. 

Bitcoin is a high risk move.  If you have a portfolio built, I would say only dedicate 10% of it towards high risk opportunities and not all of it on Bitcoin.  If you have $5000 saved and that took you a couple years to build up, the last thing I would do is dump it all in Bitcoin.  If you have $500 in your bedroom and if you don't buy Bitcoin, it's going to end up in some strippers g-string this weekend, I would invest $400 in Bitcoin and keep and $100 for necessititties.

Investing is first and foremost about wealth preservation.  I think the worst thing to come out of Bitcoin is the amateur approach to investing in it.  Don't compare yourself to the next guy.  Don't ask how much somebody owns to gauge how much you feel you should own, ask what % of their savings are dedicated to Bitcoin and what buying strategy is recommended at the current price levels.

My advice, if you determine you want to invest $2000 into Bitcoin, buy in tranches.  Pick up $100 US worth every 3 days or so and be scheduled about it (unless you understand technical charting and can time entries a bit better than going blind) until you've invested $2000.   Investing everything at once will just have you losing sleep at night.  If you're jumping up in the morning to check prices or up late worried it's going to drop, you've over invested.  Don't regret not going 100% in at once if it goes up 20% in the next few days, it could have gone down 20% just as fast. 

Currently we are reaching for previous highs.  Not exactly the best time to drop your whole load but at the same time not a bad time to move 5% of your investment into BTC.

Remember there are seven billion people in the world, and only 12 million bitcoins.

enough for what?

What do you think is it enough 5 BTC or is to little.